Gerry, Further to your comments on Marjan /have done some 'digging' [armchair variety] thought HC community would find useful to recap and point to sources:
From slide 14[of 25] Global Gold Presentation Global Gold
Presentation at Mining Journal Mines and Money London
Conference November 22-23 2005 http://www.globalgoldcorp.com/globalgoldcorp/
MARJAN
Polymetallic deposit in SW Armenia similar to
Litchkvadz-Tei and Terterasar properties. Acquired in December 2003. GKZ-3.5 million tonnes of ore, 3.39 g/t of gold, 71.3 g/t of
silver, 0.2% of copper, 1.6% lead, and 1.28% Zinc. Joint Ventured With Iberian Resources in October 2005. JV partner initially will own 40%, and is responsible for all
expenses associated with developing and bringing the
property into production. Upon spending $500,000, pursuant to a mutually agreed
budget, Iberian interest increases to 51%, and upon the
commencement of production, has the right to earn in up to
80%, and Global will retain 20% interest.
From Iberian Resources' Quarterly Report 31st Oct 2005:
MARJAN GOLD PROJECT - ARMENIA The Company has reached agreement with Global Gold Corporation of the USA to earn up to an 80% interest in the
large Marjan Gold Project in Armenia through exploration
expenditure and bringing the deposit into production. The Marjan Gold Project has had considerable exploration undertaken and a number of gold deposits have been
identified by past explorers. Former Soviet Union category C1 and C2 resources have been calculated for the project. The Company
has now commenced a programme of data compilation that will result in the recalculation of the resources base to a JORC standard.
IBR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
